July 19, 2008
Higgs on the "Credit Crunch"

In my opinion, Robert Higgs is one of the premier minds in the economics profession. In addition to asking interesting questions, he always comes up with great ways to answer them. Here, he points out that trends in interest rates are inconsistent with the popular claim that we're experiencing a "credit crunch."

Posted by Art Carden at 01:07 PM in Economics

The statesman who should attempt to direct private people in what manner they ought to employ their capitals would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it. -Adam Smith

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